The Lagos State Government has unveiled plans to introduce monthly and quarterly rent payment options aimed at reducing the financial strain on residents, especially those in low-income groups.
This was disclosed by the Lagos State Commissioner for Housing, Moruf Akinderu-Fatai, during the 2025 Ministerial Press Briefing on Tuesday, held to mark Governor Babajide Sanwo-Olu’s second year in office.
Akinderu-Fatai explained that the proposed rent model is part of the state’s broader agenda to improve housing affordability and access. He also highlighted the ongoing rent-to-own scheme, which allows beneficiaries to make a five percent initial payment and spread the remaining cost over a ten-year period.
“That initiative was well-received, and its success encouraged us to explore new ways to reduce the pressure of yearly rent payment,” he said.
Acknowledging the challenges many residents face with annual rent demands, he said the new approach is expected to offer significant relief.
“We believe that monthly or quarterly payment options will give people more breathing space and reduce the stress associated with sourcing lump sums,” he added.
Akinderu-Fatai noted that the government is in active discussions with landlords, developers, and other stakeholders to resolve potential challenges related to implementation, enforcement, and payment systems.
“Of course, there are issues to resolve, things like landlord cooperation, payment tracking, and enforcement. But discussions are ongoing, and we are listening to all sides,” he said.
He also disclosed that a pilot phase will be launched in selected locations across the state.
“This is not just policy on paper. We are making real progress. We know what this means for many families, and we are determined to make it happen,” he stated.
